BUSD

BUSD is available on multiple blockchains, including Ethereum, BNB Smart Chain, BNB Beacon Chain, Polygon, and Avalanche. Now BUSD is available on BENQI’s Liquidity Market(BLM), a well-known protocol built on Avalanche. All users are now able to explore the BENQI Liquidity Market with BUSD more safely and efficiently. In the future, the BUSD team is committed to bringing more use cases into its ecosystem. Follow BUSD updates on <a href="https://coinmarketcap.com/community/profile/BUSD" rel="noopener noreferrer nofollow">CoinMarketCap</a>.Note that BUSD is issued on Ethereum by Paxos and regulated by the New York State Department of Financial Services (NYDFS). Binance provides the pegged token service to lock BUSD on Ethereum and issues an equivalent amount of Binance-Peg BUSD on other networks. Check out the <a href="https://www.binance.com/en/assets-proof" rel="noopener noreferrer nofollow">Proof of Assets</a> page for more information.<h3 id="about-busd">About BUSD</h3>BUSD is a stablecoin issued by Paxos and approved by the NYDFS. BUSD is pegged to the US Dollar (USD) at a 1:1 ratio. This means that it’s available for purchase and redemption at a rate of 1 BUSD to 1 USD. Also, BUSD is green-listed by the NYDFS, making it pre-approved for trading and custody by any of the NYDFS virtual currency licensees.BUSD is a fiat-backed stablecoin. Paxos holds in custody the equivalent of the total supply of BUSD in US dollars. For every unit of BUSD issued, one US dollar is held in reserve in FDIC-insured US banks.Along with Paxos issuing BUSD on the Ethereum blockchain, Binance offers a wrapped BUSD token (Binance-Peg BUSD) on the other networks. Because of its intrinsic properties as a stablecoin, BUSD has performed exceptionally well and established itself as a leader in the cryptocurrency space. Since its launch in 2019, BUSD has achieved tremendous growth. And it is now an asset with a $21.7  billion market cap and ranking in the top 3 among all stablecoins.<h3 id="about-benqi-liquidity-market-blm">About BENQI Liquidity Market (BLM)</h3><a href="https://app.benqi.fi/markets" rel="noopener noreferrer nofollow">BENQI Liquidity Market (BLM)</a> enables users to lend, borrow, and earn interest on their crypto assets effortlessly. Depositors providing liquidity to the protocol earn yield, while borrowers can borrow in an over-collateralized manner.Read more: <a href="https://academy.binance.com/en/articles/what-is-benqi-qi" rel="noopener noreferrer nofollow">What Is BENQI (QI)? | Binance Academy</a>https://twitter.com/BenqiFinance/status/1584815787009015809

BUSD Is Now Available on BENQI's Liquidity Market

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